Cost of Units Transferred Out and Ending Work in Process

The costs per equivalent unit of direct materials and conversion in the Rolling Department of Jabari Steel Company are $$0\mathrm{.}25$ and $$1\mathrm{.}00,$ respectively. The equivalent units to be assigned costs are as follows:

Equivalent Units

Direct Materials

Equivalent Units

Conversion

Inventory in process, October $1$

$0$

$3,500$

Started and completed during October

$44,000$

$44,000$

Transferred out of Rolling $($completed$)$

$44,000$

$47,500$

Inventory in process, October $31$

$2,000$

$1,000$

Total units to be assigned costs

$46,000$

$48,500$

The beginning work in process inventory on October $1$ had a cost of $$2,240.$ Determine the cost of completed and transferred$-$out production, the ending work in process inventory, and the total costs assigned by the Rolling Department.

Line Item Description

Amount

Completed and transferred$-$out production

$

fill in the blank $1$

Inventory in process, October $31$

$

fill in the blank $2$

Total costs assigned by the Rolling Department

$

fill in the blank $3$